Business Plan Template

Instructions
Thank you for downloading this business plan template. Please feel free to delete this
page after you have read the instructions below.

1. Detailed guidance on completing the various sections of this business plan

template can be found at the end of this document. You may wish to delete these
when you have finished your business plan, or keep them in for future reference.

2. This document is a guide only – you may wish to delete or add sections to this
plan depending on your business type or the intended audience of your business
plan.

These tools and other information are copyrighted 2015 by The Small Business Company, Ltd. ("TSBC") and
used under license by TD Bank, NA. This information is not intended to provide specific financial, investment,
tax, legal, accounting or other advice and should not be acted or relied upon in that regard without seeking the
advice of a professional who can help to ensure that your own circumstances have been properly considered
and any action is taken on the latest available information. TD does not endorse or guarantee the accuracy of
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Business plan for
{Enter your business name here}
Date: February 21, 20XX

(Guidance for completing your business plan can be found at the end of this document)

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Business profile

Corporation, Partnership, Sole proprietorship (delete where

STRUCTURE appropriate)

DATE ESTABLISHED

DATE REGISTERED

REGISTRATION #

Contact details

CONTACT NAME

TELEPHONE

MOBILE

EMAIL

POSTAL ADDRESS

PHYSICAL ADDRESS

Online/Social media

WEBSITE GOOGLE+

LINKED IN BLOG

FACEBOOK YOUTUBE

TWITTER VIMEO

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Contents
1. Executive summary
a. Current position
b. Competitive advantage
c. Growth plan
2. Business background
3. Business strategy
a. Tactics
b. Strategic impact
c. E-commerce and technology
d. Core values
e. Credibility and risk reduction
4. My team
a. Management structure
b. Current team
c. Vacant positions
d. Retention and recruitment policies
e. Mentors and business support
5. SWOT and critical success factors
a. SWOT summary
6. Market research
7. Market analysis
a. Market opportunity
b. Market structure
c. Market size and outlook
d. Future markets
e. Target market
8. Competitor analysis
9. Financial plan
a. Start-up costs
b. Funding
c. Break-even date
d. Profit and loss forecast
e. Cash flow forecast
f. Balance sheet forecast
10. Marketing strategy
a. Launch budget
b. Marketing budget
11. Business ownership structure (companies)
a. Directors
b. Other shareholders
12. Compliance
a. Legal and regulatory considerations
b. Insurance
13. IT and equipment
a. Business premises
b. IT
c. Equipment
14. Help (glossary)

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Page |1
1. Executive Summary
Click here for help

Examples provided below for reference – delete them from your plan.

Current position

My business is in the introductory stage. I’m in the tourism industry, which is currently
experiencing industry growth.

Competitive advantage

I’ve registered my logo as intellectual property, and I consider my business’s competitive

advantage to be more attentive service than my competitors.

Growth plan

I’m focused on establishing my business in the marketplace first with one outlet. I then
plan to branch out into other areas of the city, progressively opening new outlets.

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2. Business background
Click here for help

Examples provided below for reference – delete them from your plan.

History

I’ve been selling travel products for the last three months. We’ve only just entered the
market but are hearing some positive feedback from customers.

Goals

We want to be the number one travel agent in our city within five years – it’s our
primary goal. To get there, our objectives include providing 100% satisfied customers
within our first year and opening a second branch within three years.

Offering

My business offers comprehensive assistance with booking the best quality travel
packages for customers’ needs. We help with flights, hotels, car rental, insurance, and
activities.

Intellectual property

Our logo and trademark.

Locations and outlets

Just the one at the moment – with ambitions to open more.

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3. Business strategy
Click here for help

Examples provided below for reference – delete them from your plan.

Tactics

My staff and I will need to treat our customers like gold. Service and our quality travel
options will be the reason we get long-term clients. To maintain service levels I’ll have to
increase my staffing numbers over time, and eventually open new outlets. Building great
working relationships with our partners (such as airlines and hotel operators) will also be
crucial.

Strategic impact

Over the next five years, the main threats to my business are the two big names in the
travel agent industry that have the greatest market share. Opportunities include creating
a high-service level niche clientele who appreciate us going the extra distance.

E-commerce and technology

We use one of the newest agency systems for booking flight tickets. It’s fast, efficient
and allows our customers to print their own e-tickets at home – which they generally
prefer and saves us a few dollars.

Core values

Excellent service, encompassing total respect for our customers. We aim to make their
lives easier by doing the hard work for them. It’s crucial our staff remain motivated to
maintain high service levels so we differentiate our business from the big players.

Credibility and risk reduction

I plan to add testimonials to our website, include a money-back period leading up to
customers’ travel dates, and begin to introduce some new tours led by famous faces.

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4. My team
Click here for help

Examples provided below for reference – delete them from your plan.

Management structure

I oversee our business in a CEO type role. I have two managers – an operations
manager and a marketing manager. We also have three frontline staff who sell travel to
our customers.

Current team

Name {Enter employee’s name}

Position

Qualifications

Expertise

Track record

Name {Enter employee’s name}

Position

Qualifications

Expertise

Track record

Name {Enter employee’s name}

Position

Qualifications

Expertise

Track record

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Vacant positions

Position #1 {Enter title}

{Enter description}

Position #2 {Enter title}

{Enter description}

Position #3 {Enter title}

{Enter description}

Retention and recruitment policies

Being a travel agent, quality staff are my most important resource. I plan on having a
low staff turnover by finding ways to incorporate staff travel with some of the tours we
sell. These will be some great perks of the job.

Mentors and business support

The U.S. Travel and Tourism Advisory Board (TTAB) is a great business support resource
for us.

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5. SWOT and critical success factors

Examples provided below for reference – delete them from your plan.

Click here for help

Strengths I will maximize them by:

Location Advertising where we are and how our staff

can offer personalized help.
Service

Weaknesses I will minimize them by:

Slowly gaining a foothold by offering

New to the market
superior service.

Opportunities I will maximize them by:

Promoting the business as a niche travel

Expansion after getting established service that does things differently. Once
Creating a niche we get a customer base, I’ll have some
locations in mind for possible expansion.

Threats I will minimize them by:

Offer more for the consumer’s dollar –

Cost of travel is rising
Competition reaction to us taking some of
their market share
extra service and more time spent finding
the best travel deals with the better
airlines. Be prepared for a reaction from
the big players, like possibly dropping their
prices.

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SWOT summary

Chosen strategy

S–O: Exploit our internal Strengths to maximize our external Opportunities.

Critical success factors

Create consistent, unmatched service.

Ensure potential customers know where our location is, how to get there, and parking
options.

Begin searching for ideal locations for our second and third branches.

Brainstorm ways we can create a niche service in the eyes of the public with staff and
our business advisers.

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6. Market research
Click here for help

Examples provided below for reference – delete them from your plan.

We have conducted a focus group with the participants being high-end, service oriented,
regular travelers. The results found through this focus group were the basis for a survey
of 200 regular travelers – we found there was a need for a higher quality, service-
oriented travel agent.

After customers return from their vacations, we ask them to complete a quick email
survey how their trip went and specifically how our service was.

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7. Market analysis
Click here for help

Examples provided below for reference – delete them from your plan.

Market opportunity

The larger travel agents have reached a point where they’re predominantly competing on
price, so we recognized a gap in the market at a niche service level. We think this could
be 10-15% of the market.

Market structure

We plan to sell directly to customers through our retail outlet. Of course, we’ll have a
useful website but will encourage potential customers to speak with us face-to-face so
we can provide superior service.

Market size and outlook

Our research suggests the market size of potential overseas travelers is 30% of the
population of our city. We see the size of this market increasing over time as the
economy continues to prosper.

Future markets

Market structure

There will be possibilities to branch out to other cities around the country if we achieve
growth.

Size and outlook

These markets have a similar outlook to our own – expected economic growth over time.
The sizes of these markets range from about the size of our market to double its size.

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Target market

Target market description

Our target market is 10-15% of the travel market. These are higher income consumers
who want to be looked after with excellent service. It has the potential to grow as the
market is expected to have more consumable income in the future.

Factors influencing purchasing habits

There are seasonal factors as most of our potential customers will want to travel to
warmer climates.

How the business will meet the market’s requirements

We intend to offer a variety of travel options to varying destinations to even out demand
over the year.

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8. Competitor analysis
Click here for help

Examples provided below for reference – delete them from your plan.

Competitor 1 {Enter name}

Strengths Weaknesses
Many valuable connections with other They have their partners and connections
travel industry groups, such as airlines and without proactively looking for newer and
hotels. better contacts.

Strategy to reduce the impact

We will thoroughly search the travel industry for alternative contacts that fit with our
philosophy of providing superior service.

Competitor 2 {Enter name}

Strengths Weaknesses
Able to offer travel packages at very cheap Impersonal, almost do-it-yourself attitude
prices. to serving customers.

Strategy

We will target the opposite end of the scale – by making sure our service is highly
personal and focusing on quality with the travel products we offer.

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9. Financial plan
Click here for help

Examples provided below for reference – delete them from your plan.

Start-up costs

Legal costs $2,000, Office space $5,000, Computer equipment $10,000, Office furniture
$2,000, Stationery $300, Insurance $500, Travel expenses $5,000, Other expenses
$1,000

Funding

$25,800 required - $15,000 own funds, $5,000 family, $5,800 bank loan

Break-even date: {enter date here}

Profit and loss forecast

First year Second year Third year

Estimated sales $ $ $

Estimated costs $ $ $

Estimated profit/loss $ $ $

Cash flow forecast

First year – Jan -$2,000 Feb -$1,000 March $500 April -$800 May $200 June $1,200

Balance sheet forecast

First year – Total assets $18,000, Total liabilities $10,800, Net worth $7,200

Second year – Total assets $32,000, Total liabilities $15,000, Net worth $17,000

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10. Marketing strategy
Click here for help

Examples provided below for reference – delete them from your plan.

Launch budget

Marketing budget

Key target and what you will sell them

High-end travelers. We’ll have specially tailored travel packages that are focused on
great service.

Pricing strategy

High-end prices – competing for top dollar from our niche target market.

Distribution channel

Direct to customers via our retail outlet and over the phone.

Promotional tactics

Our website will primarily be used to promote our service and offerings. We also plan
radio advertising and print segments in major travel magazines.

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11. Business ownership structure
Click here for help

{For companies – delete if necessary}

Directors

{Enter text}

Other shareholders

{Enter text}

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12. Compliance
Click here for help

Examples provided below for reference – delete them from your plan.

Legal and regulatory considerations

{Delete as necessary}

Insurance

I intend to get contents insurance, asset insurance, employer’s liability insurance and
business interruption insurance.

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13. IT and equipment
Click here for help

Examples provided below for reference – delete them from your plan.

Business premises

I’ll be leasing premises for the first few years.

IT

Requirements

Six computers – laptops so we can work while traveling if necessary.

Solutions

We’ll need to make sure the data on them is secure, especially when taken out of the
office. We’ll hire an IT security company to set up our systems and secure them.

Equipment

Requirements

We may consider hiring a vehicle when needed, to meet clients where they prefer.

Solutions

Arrange an agreement with a car rental company.

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Help
Business plan explanations and guidance

1 – Executive summary

The executive summary is where you traditionally ‘sell’ your business by getting straight
to the point and promoting the critical information you need to get across to your
audience. You’ll touch on many of the key issues later on, so don’t go into great detail –
just give the reader an idea of the potential of your business and a taste of what’s to
come.

Rather than start with the executive summary, it’s best practice to complete the rest of
your business plan in detail before tackling the executive summary with all the details
and important points in place. When you do, make sure you write no more than a few
paragraphs and use non-technical language.

Executive summaries are the most controversial element of the modern business plan.
Many business people place great faith in them because if the reader of the business plan
(such as a potential investor) is pushed for time, the executive summary can
communicate all the vital information to them quickly.

However, others criticize the executive summary because they think it oversimplifies
complex ideas, so they avoid including it in their business plans at all. Think about your
idea and your audience when deciding whether or not to use an executive summary in
your business plan. If your readers will be experts or specialists in your field or industry,
they may skip the executive summary to check out the finer details of your plan.

Current position

Outline the current position of your business: at what stage is it in its life cycle
(introductory phase, growth phase, mature, declining)?

Explain what industry you operate in and where it sits in the business life cycle
(emerging industry, growth industry, mature industry, declining industry). If you haven’t
started yet, outline what you’re doing at present and how it’s relevant to your business.

Competitive advantage

Complete the competitor analysis section of your business plan before answering this
section by listing and detailing your core competitive advantages that give you a leg up
on your competition.

A competitive advantage can be anything from a unique skills base to a wider marketing
reach or more distribution channels.

If you’re part of a strategic alliance or you own any intellectual property (IP), this is also
the place to detail it and explain how you’re going to use it.

Holding any IP (such as a trade mark, patent or registered design) is a competitive

advantage in itself because it gives you the sole license to profit from the idea. Find out
more about the US Patent and Trademark Office’s intellectual property law and policy.

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Growth plan

Explain how you plan to increase your business’s capabilities (its skills and offerings) and
its capacity (rate and scale of production). In addition, outline why you’re confident your
business will continue to grow and be sustainable.

2 – Business background

Detail the history of the business (or the development of the idea) to date, and outline
your business track record to provide the reader with a context for your current
activities.

3 – Business strategy

Describe your business’s objectives and goals for the next one to five years (make sure
they’re specific and measurable).

Tactics

Cover the main practical steps you have to take to get your business from where it is
now to where you want it to go. What extra resources will you need?

Strategic impact

Outline the external threats or opportunities that could arise from your strategy and
impact your business during the next one to five years. If you’re unsure, complete the
SWOT section before completing this section.

E-commerce and technology

Explain how you’re using (or planning to use) e-commerce and technology to improve
your business. E-commerce and technology can be used to lower costs, speed up
business, access new markets, build sales and so on.

Core values

Describe the core values that underpin your business. Explain why these core values are
crucial to your long-term business success, how they will affect customers (the benefits)
and how they will help motivate you and your staff.

Credibility and risk reduction

Explain your tactics for increasing the credibility of your business and reducing the
customer’s risk in doing business with you.

4 – My team

Management structure

Outline your business’s management structure – and detail the individual roles assigned
to each manager.

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Current team

Introduce your current team and provide details of their qualifications, expertise and
track records that act as assets for the business.

Vacant positions

Detail the positions that need to be filled to enable you to grow the business.

Retention and recruitment policies

Outline the best practice solutions you’ll use to retain key staff and compete for skilled
workers in the job market, to maintain and improve your business’s capabilities. This is
often an area overlooked in business plans. It will give readers confidence that your
business won’t be hamstrung by a high turnover of staff or any other human resource
issues.

Mentors and business support

List the business support resources you can rely on and the specific assistance they can
provide your business to make it more competitive. Business support can come in many
forms so make sure you include all the support you receive, whether it’s from a mentor
or your local Chamber of Commerce – it all adds to the viability of your business.

5 – SWOT and critical success factors

SWOT analysis is a method for gauging your business’s health by looking at its
Strengths, Weaknesses, Opportunities and Threats. List them in the left columns of the
tables and detail what you could do to maximize or minimize their impact in the right
columns.

Strengths (such as a strong brand) and Weaknesses (such as low cash flow) should be
internal factors. Opportunities (like a trade show) and Threats (such as a new
competitor) should be external to your business and your influence.

SWOT summary

Once you’ve completed your SWOT analysis, you can use it to help you choose a
strategic direction for your business by comparing the Strengths, Weaknesses,
Opportunities and Threats you’ve identified.

There are four SWOT strategies:

S–O: Exploit your internal Strengths to maximize your external Opportunities.

W–O: Minimize your internal Weaknesses by exploiting your external Opportunities.

S–T: Exploit your internal Strengths to minimize your external Threats.

W–T: Minimize your internal Weaknesses and evade external Threats.

If your SWOT analysis has suggested a course of action, write down the strategy in the
chosen strategy box and detail how you can put it into action. You can then make a list
of the critical factors for the strategy’s success in the next box.

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If you’re planning on showing your business plan to others, this section will show them
you’re using long-term strategic thinking in your business rather than just focusing on
the day-to-day operational issues. However, you can also keep returning to this section
as a living document to update it and help you take stock of where your business should
be going.

5 – Market research

Explain what market research you’ve done to build this plan and the methods you used,
and outline how ongoing market research is built into your daily business operations.

7 – Market analysis

Market opportunity

Describe the opportunity in the marketplace that you’ve recognized. Go into detail about
how visible this opportunity is to your competitors – whether it’s a gap your competitors
are also actively looking to fill, or you think it’s largely unrecognized by the market.
Mention the potential revenue the market opportunity represents.

Market structure

Describe where your business fits into the marketplace or supply chain structure and any
efficiencies you plan to implement to usurp the status quo. For example, you could start
selling directly to customers online if the accepted structure in your industry is to sell to
wholesalers and retailers. This would provide you with cost and time efficiencies that
represent competitive advantages.

Market size and outlook

Place all the relevant statistics here to describe the market. The readers will need to
know how large the market is in consumer/business numbers and the potential value of
the market derived from spending habits.

Once you’ve established the parameters, provide evidence for the changes you think are
taking place and the direction you think the market is taking. No market ever stays the
same; market influencers (such as the economy and changing demographics) always
play a part in market growth and contraction.

You need to show you’re analyzing the market correctly to recognize the opportunities
and threats that could exist.

Future markets

Detail the markets you’ve identified that could provide future growth for your business.

Target market

Within the marketplace should be a certain type of customer you’re targeting with
products and/or services designed to meet their needs. Describe the size and potential
value of this target market (as you’ve done in the previous section for the overall
market), including all the relevant statistics for your business.

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After you’ve described the target market, fill out the next two boxes by describing the
factors that influence your target market’s purchasing habits (such as seasonal occasions
or economic influencers) and how your products and/or services respond to these
conditions.

Having a target market is incredibly important though many businesses ignore this fact.
Without knowing what type of people will be most attracted to your offering, you won’t
be able to build a true picture of your business’s viability. And without targeting the
people most attracted to your offering, you’ll never be able to maximize the real
potential of your business.

8 – Competitor analysis

Use this section to identify your competitors’ strengths and weaknesses, and to
formulate a strategy that combats their strengths and targets their weaknesses.

Your choices should be based on sound competitor research that gives you an accurate
picture of the experience your competitors offer their customers. This means you should
purchase products/services from your competitors to gain first-hand knowledge of their
offerings. Then you can compare it with your own without making any assumptions.

If you’ll be recognized by your competitors, don’t use this as an excuse to limit your
research to their website and advertising – consider sending in a friend as a mystery
shopper.

9 – Financial plan

Start-up costs

Summarize the start-up costs of your business. Account for as much detail as possible.
The more accuracy and honesty you provide at this stage the better because if you
sugar-coat the costs you face now, you’ll just be setting yourself up for problems later
on.

You need to pause and spend time digging down into the figures to give your business a
realistic costs basis to build your break-even analysis on.

Funding

Detail your sources of funding here – it’s up to you how much detail you go into. If you’ll
be showing this business plan to potential investors, they’ll want to see how much you’re
backing your business with your own investment, and who else has already invested in
the business.

Break-even date

Carry out a break-even analysis and enter the resulting date in the space provided. A
break-even analysis estimates when your business could break even and start to pay its
ongoing costs.

To find a break-even date, you need to a) estimate the sales volume you need to reach
to break even and b) estimate how long it will take you to reach that milestone given
your capacity limitations.

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 a) Estimate your break-even sales volume:
1. Separate all your costs into type, fixed or variable.
2. Tally up your total fixed costs.
3. Tally up the average variable cost per product sold or service delivered (your variable
cost per unit).
4. Subtract your variable cost per unit from the unit sales price to find your profit
margin.
5. Divide your total fixed cost by your profit margin to find your break-even sales
volume.
b) Estimate your business’s average production or service capacity per day (or week if that’s
more relevant). Make sure you dig down into the details to account for the entire supply
chain from production to point of sale. Once you have an accurate estimate, divide the break-
even sales volume by your average production capacity to give you the number of days (or
weeks) ahead until you reach your break-even date.
If you charge an hourly rate for a service, you can take a short cut to the break-even
calculation by calculating your break-even point in hours. Divide your fixed costs by your
hourly call-out rate to find the number of hours that need to be worked to reach break-
even. Apply the result to the average number of hours worked each day by the service
technicians in your business.

Profit and loss forecast

Present a summary of your profit and loss forecast for the next year in this segment
before attaching a detailed forecast to your plan.

Forecasting profit and loss can be quite difficult for existing businesses, let alone start-
ups with no track record to go on. If you’re still in the start-up phase, you need to base
your figures on your market research by estimating the value of the market and the
share of it you could take from your competitors as your business develops.

Try finding industry data or using publicly available statistics to support your forecasts.
You can also provide pessimistic, realistic and optimistic forecasts, rather than just one
to promote your objectivity.

Cash flow forecast

Summarize your cash flow forecasts for the next three to five years, before attaching a
detailed forecast for the next year to your business plan.

Few businesses enjoy consistent levels of cash flow throughout the year. Unless your
industry or business model can justify that prediction, you’ll need to drill down into your
market research to identify the peaks and troughs in income that you can expect.

Balance sheet forecast

Summarize your balance sheet forecast for the next three to five years, before attaching
a detailed forecast for the next year to your plan. Balance sheets account for all the
assets a business owns for the calculation of its net worth. This is the value of the
business’s assets minus its debts (or liabilities). It also shows how the assets are
financed, if they’re not owned outright by a business or individual.

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Potential investors will compare your cash flow forecasts with your balance sheet
forecasts to see when the business’s income is likely to balance out all the debts incurred
buying assets in the start-up phase.

This is different to a break-even analysis, which estimates when the business will
generate enough income to cover its ongoing costs rather than its total debts.

10 – Marketing strategy

Detail your strategy for taking your product or service to the target market.

Marketing is the umbrella term for the overall strategy of taking your product and placing
it in the hands of your customers, so marketing strategies often entail the coordination of
everything from product design and pricing to sales and advertising.

The core segments of a marketing strategy are often referred to as ‘The 4 Ps’. The more
coordinated these four elements are, the more likely your strategy will be a success.

The 4Ps are:

 Product – Designing features into your product or service that meet the needs of the target
market.
 Price – Using a pricing strategy that reflects the values of your product and brand, while
appealing to the target market.
 Place – Choosing the right distribution channels to make sure the product is sold at the right
place and time to meet your target market, and choosing the correct delivery method to
meet their needs.
 Promotion – Choosing promotional and advertising tactics to appeal to your target audience
to maximize sales.
All four elements must work in conjunction – if the promotional methods emphasize
value but the pricing emphasizes quality, for example, they won’t complement each
other.

You should split your promotional strategy into two categories – launch and ongoing
marketing – because they’ll require two different sets of tactics. The former will be
gauged to attract new customers while the latter uses a mix that contains more tactics
for keeping existing customers.

When it comes to budgeting your promotional and advertising efforts, you should
measure and keep track of your spend as you would do in any other part of your
business. Use break-even analysis to measure the level of business that needs to be
generated before you see a return on your investment (ROI). Compare that with the
costs as you strategize. If the ROI is unrealistic, try to find more cost-effective ways of
marketing your business.

Launch budget

Place your launch marketing budget in this space. Few businesses make their name
purely on word-of-mouth; they need to promote their business to effectively set up their
stall in the marketplace. The budget for this should be part of the start-up costs

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mentioned in the Finance section (9a) and reflect the total cost of the launch marketing
tactics outlined in your marketing strategy.

Marketing budget

Once you’ve launched your business and gained recognition for your start-up’s brand,
you’ll most likely need to continue marketing to keep the brand ‘top of mind’ with your
target market.

Only businesses that can generate consistent and powerful, positive word-of-mouth can
normally forgo this cost. However, the fact remains that many businesses continue to
promote themselves only on an ad hoc or opportunistic basis to save costs rather than
committing to an effective long-term strategy.

Therefore, the budget for your ongoing marketing strategy should use tactics that are
financially sustainable within your forecast cash flow. If your marketing budget needs
half of your monthly cash flow to sustain it, go back to the drawing board.

11 – Business ownership structure (companies)

If your business is a company with directors and shareholders, outline the ownership
structure in this section along with their investments, liabilities and share of profits.

If you’re in a partnership, include details from your Deed of Partnership.

12 – Compliance

Legal and regulatory considerations

Compliance is perhaps the least interesting part of any business plan, but it’s crucial
because compliance – or the lack of it – is actually a common area of risk. You need to
show your business complies with national and industry standards and practices so it can
avoid any negative fallout from non-compliance, such as fines and bad PR.

Speak to your lawyer and accountant for advice on what you need to do.

Find out about your tax obligations under the business section of the Internal Revenue
Service (IRS).

Insurance

Detail your business insurance arrangements to show you’re mitigating the risks to your
business continuity. Business insurance can include:

 Premises insurance
 Contents insurance
 Asset / Vehicle insurance
 Employer’s liability insurance (in case of workplace accidents)
 Public liabilities cover (third-party injury or death)
 Professional indemnity insurance (cover against claims arising from your professional advice)
 Business interruption insurance
 Front of business insurance (covering repairs to front of premises)
 Legal expenses insurance
 Stock insurance

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12 – IT and equipment

Business premises

Detail your premises situation. Do you (or are you going to) lease premises to save
money on your capital costs or do you own your business’s premises as an asset that
accrues value?

IT

Explain your IT requirements and how you plan to manage them, including solutions for
any specialist human resources or security issues.

Equipment

Explain your equipment requirements and how you plan to manage them, including
solutions for any machinery, vehicles and equipment costs. For example, is it more in
your business’s interests to purchase or lease certain equipment?

Additional information

The United States Patent and Trademark Office (USPTO)

Internal Revenue Service (IRS)

These tools and other information are copyrighted 2015 by The Small Business
Company, Ltd. ("TSBC") and used under license by TD Bank, NA. This information is not
intended to provide specific financial, investment, tax, legal, accounting or other advice
and should not be acted or relied upon in that regard without seeking the advice of a
professional who can help to ensure that your own circumstances have been properly
considered and any action is taken on the latest available information. TD does not
endorse or guarantee the accuracy of the information provided by TSBC, or any other
third party and the information does not necessarily represent TD's business practices or
experience. Neither TD nor TBSC makes any representation or guarantee as to the
accuracy and/or reliability of such information nor shall any of TD or TBSC or their
respective employees be liable for any loss or damages suffered as a result of any use of
such information.

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